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Co-Op Society Without RBI Banking License cannot be termed as Co-op Bank

Case Law Details

Case Name
Ugar Sugar Works Kamgar & Dr. Shirgaokar Shaikashanik Trust Nokar Co-op Credit Society Vs ITO (ITAT Panaji)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2012-13
Advertisement Ugar Sugar Works Kamgar & Dr. Shirgaokar Shaikashanik Trust Nokar Co-op Credit Society Vs ITO (ITAT Panaji) The Ugar Sugar Works Kamgar & Dr. Shirgaokar Shaikashanik Trust Nokar Co-op Credit Society appealed against the Commissioner of Income Tax (Appeals)’s order, which upheld the Assessing Officer’s denial of their claim for exemption under Section 80P(2)(a)(i) of the Income Tax Act for the assessment year 2012-13. The AO had classified the appellant as a cooperative bank, not a cooperative society. The Income Tax Appellate Tribunal (ITAT), Panaji, heard ...
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Author Info

CA Sandeep Kanoi
Qualification: CA in Job / Business
Company: Taxguru Consultancy
Location: Mumbai, Maharashtra
Articles Published: 18,853

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